Quick Take
- OpenAI confidentially filed an S-1 for a US IPO on June 8, 2026, at a $852 Bn valuation.
- The move follows rival Anthropic, valued at $965 Bn, filing its own paperwork on June 1, 2026.
- OpenAI set no firm timeline but kept the option to list as early as September 2026.
In This Article
The OpenAI IPO filing landed on June 8, 2026, when the ChatGPT maker submitted a confidential S-1 to US regulators at a valuation of around $852 Bn (Rs 70,716 Cr at scale).
The company shared the news in a post on its official blog and on X. It said the timing is not fixed and a public debut “may be a while,” because some plans are easier to finish as a private company. By filing now, OpenAI keeps the option to go public sooner if that suits the market, according to the company announcement (OpenAI confidential S-1 statement).
StartupFeed Insight
The real story is not the filing, it is the forced disclosure. A confidential S-1 means OpenAI’s revenue, margins, and cash burn will soon face public scrutiny for the first time, testing whether a $852 Bn price tag holds. Indian SaaS founders and VC analysts should watch closely: these numbers will reset global AI valuation benchmarks and contract multiples that flow down to local deals. StartupFeed expects OpenAI to confirm a listing window by Q4 2026, with the actual debut hinging on how SpaceX’s offering trades first. If SpaceX prices strongly, both OpenAI and Anthropic may move faster. By StartupFeed Desk.
OpenAI IPO Filing: Deal Breakdown
The OpenAI IPO filing is a confidential S-1, meaning the financial details stay private until regulators complete their review. OpenAI did not disclose the size or terms of the offering, the company said.
| Metric | Detail | Notes |
|---|---|---|
| Filing Type | Confidential S-1 | Filed June 8, 2026 (company announcement) |
| Valuation | ~$852 Bn (Rs 70,716 Cr) | Reached March 2026 (SiliconANGLE) |
| Last Funding Round | $122 Bn (Rs 10,126 Cr scale) | Closed March 2026 (SiliconANGLE) |
| Underwriters | Morgan Stanley, Goldman Sachs | Same banks named in SpaceX listing (SiliconANGLE) |
| Offering Size | Not disclosed | Terms private during confidential review |
| Possible Debut | As early as September 2026 | No firm timeline set (company statement) |
The most striking fact is the absence of numbers. OpenAI kept every financial term confidential, so the public still cannot see its revenue or losses.
About OpenAI
OpenAI Group PBC builds AI models and runs ChatGPT, an AI assistant launched in late 2022. Founded in 2015 and based in San Francisco, it earns money from subscriptions, an $8 lower-cost tier, ads, and enterprise tools. ChatGPT has hundreds of millions of users, per the company. Key backers include Microsoft, which holds a 27% stake after a recent recapitalisation.
How does the OpenAI valuation compare?
OpenAI’s $852 Bn valuation now trails its closest rival, a rare position for the ChatGPT maker. In May 2026, Anthropic‘s valuation passed OpenAI’s for the first time, reaching $965 Bn after a funding round, SiliconANGLE reported.
“It may be a while because there are things we want to do that are likely easier as a private company,” OpenAI said in its statement.
OpenAI reached its $852 Bn mark in March 2026 after a $122 Bn round, SiliconANGLE reported. The gap matters: public investors will judge whether either valuation is defensible once real revenue and margin figures appear in the regulatory documents.
Who are OpenAI’s biggest rivals?
OpenAI faces strong competition from Anthropic and Google in the AI sector. Each is racing toward public markets or larger enterprise share.
| Company | Valuation | IPO Status |
|---|---|---|
| OpenAI | ~$852 Bn | Confidential S-1 filed June 8, 2026 |
| Anthropic | $965 Bn | Confidential filing on June 1, 2026 |
| SpaceX (xAI link) | $1 Tn-plus target | Public listing plan; up to $75 Bn raise |
What sets OpenAI apart is consumer reach: it is seen to lead in everyday users, while Anthropic is viewed as stronger with enterprise clients, per SiliconANGLE.
Why is OpenAI going public now?
OpenAI is filing now to keep its options open while pressure mounts to prove it can earn enough to justify its valuation, SiliconANGLE reported. The company pours tens of billions of dollars into AI chips and data centre infrastructure.
A listing also lets OpenAI run a tender offer, so employees can sell shares at the current price. This eases near-term demand for cash, an anonymous source told CNN. To lift revenue, OpenAI launched a cheaper $8 ChatGPT tier and added ads, aiming for more than 122 Mn paying users by year-end, per the company.
What’s Next
OpenAI’s next milestone is a decision on its listing window, which StartupFeed expects to firm up by Q4 2026. Much depends on how SpaceX’s mega-IPO trades first. A strong debut there could push OpenAI and Anthropic to accelerate and compete to list first. Will OpenAI’s hidden financials prove the $852 Bn price is real, or too steep?
Frequently Asked Questions
Last updated: June 9, 2026 at 14:30 IST
Disclaimer: This article is for informational purposes only and does not constitute investment advice. StartupFeed and its authors are not SEBI-registered investment advisors. The analysis above is based on publicly available information and should not be the sole basis for any investment decision. Please consult a SEBI-registered financial advisor before making investment decisions.
Written by Soumya Verma. Published: June 9, 2026. Updated: June 9, 2026. Have a tip? Write to us at editorial@startupfeed.in.
